Bybit strengthens Middle East operations with Dubai crypto license

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Bybit secures Dubai license

Highlights

Bybit secures Dubai license for crypto spot trading.
Derivatives services still need separate approval.
Exchange expands its global regulatory presence.

According to a press release, Bybit Fintech FZE has obtained a Virtual Asset Service Provider (VASP) license from Dubai's Virtual Assets Regulatory Authority (VARA). The authorization allows the company to conduct licensed spot trading activities under the emirate's regulatory framework.

Dubai approval focuses on spot trading

The license establishes a formal regulatory basis for Bybit's spot trading operations in Dubai. It also places the approved activities under VARA's supervision, making compliance with local requirements a continuing obligation rather than a one-time condition for entering the market.

The distinction between spot and derivatives trading is significant for Bybit, whose global business includes both products. The company has indicated that it wants to expand its Dubai permissions to cover derivatives, but any such move would require additional regulatory approval. The current authorization should therefore not be interpreted as permission to offer its entire international product range.

Bybit extends its international licensing strategy

The Dubai decision follows a series of regulatory developments announced by Bybit during 2026. In an October presentation, co-founder and Chief Executive Ben Zhou identified five licenses and regulatory approvals across the European Union, the Cayman Islands, Indonesia, South Africa, and El Salvador.

Bybit, which says it serves more than 80 million users worldwide, has increasingly emphasized jurisdiction-specific permissions as it develops its international operations. Its stated priorities include compliance systems, security controls, and risk management, although the announcement did not provide financial projections or a timetable for expanding services in Dubai.

Regulatory approval strengthens Dubai market position

Bybit established its international headquarters in Dubai in 2022 and has since participated in local blockchain and digital asset industry initiatives. The new authorization gives its Dubai entity a clearer operational role within the emirate's regulated cryptocurrency market, while leaving any expansion into derivatives dependent on further review.

For Dubai, the approval adds another licensed participant to a sector the emirate has sought to develop through dedicated virtual asset regulation. For Bybit, the immediate benefit is a defined legal framework for spot exchange services in an important regional market. Its longer-term position will depend on meeting supervisory requirements, attracting trading activity, and obtaining permission for additional products.

We also reported Bybit announces a unified ecosystem integrating crypto, TradFi, payments, and AI.

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